The Delhi High Court Bench of Justice Jyoti Singh has observed that claims which are not a part of the Resolution Plan on the date of approval, shall stand extinguished and no person will be entitled to arbitrate such claims. Put differently, post-insolvency commencement date claims which are not made a part of the Resolution Plan are not arbitrable.
Facts
The present petition was filed by the Petitioner under Section 34, Arbitration and Conciliation Act, 1996 (“ACA”) challenging the arbitral award dated 21.08.2024, passed by the three-member arbitral tribunal. The Petitioner was admitted to Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016. The Respondent filed its proof of claims…